South Korea Plans to Extend Driving Restrictions to Private Cars Amid Soaring Fuel Prices

Amid persistently rising global oil prices, the South Korean government is considering extending its current five-day rotational vehicle restriction policy—currently applied only to the public sector—to the general public. Finance Minister Ko Yun-cheol stated that if oil prices climb to $120–130 per barrel (currently at $100–110), restrictions could be expanded to the private sector. Since March 25, public institutions have strictly enforced the driving curbs, affecting approximately 1.5 million vehicles and saving an estimated 3,000 barrels of crude oil per day. Electric and hydrogen-powered vehicles are exempt from these restrictions. Major corporations such as Samsung Electronics and SK Group have already urged employees to reduce private car usage. South Korea relies on Middle Eastern imports for 70% of its crude oil, and its supply routes face geopolitical risks, potentially leaving the country with less than two months of strategic petroleum reserves. In parallel, the government is advancing a supplementary budget of 25 trillion won and fuel tax reductions to mitigate the economic impact. As of March 31, nationwide mandatory restrictions on private vehicles have not yet been implemented; any further measures will depend on oil price trends and energy supply conditions.